The July 29 strike was limited to one day and isolated from workers in other industries who face similar attacks. All India Bank Officers Association (AIBOA) general secretary S. Nagarajan, told the press that the strike was only a “warm-up” to a “bigger” one. In reality, the union officials are working with the government to shut down the struggle as soon as possible.
Early last year, when the bank unions called for a 25 percent pay rise, the IBA refused and the unions later agreed to just 15 percent. “Our members are happy with the hike,” All India Bank Employees Association (AIBEA) general secretary C.H. Venkatachalam claimed. Highlighting the subservient role of the unions, he added : “I hope the settlement now will motivate people to work hard to achieve new objectives for the banking industry and set new standards towards customer satisfaction.”
All nine unions in the UFBU participated in the latest negotiations. Undoubtedly, the aim of such talks was to scuttle the workers’ opposition. Several UFBU unions are affiliated to the Stalinist parties that have long supported or participated in Indian governments.
Both the AIBEA and AIBOA are linked to the trade union wing of the Communist Party of India (CPI). Another union, the BEFI, has fraternal relations with the Centre of India Trade Unions, which is affiliated to the Communist Party of India (Marxist) or CPM. Both parties have worked with successive governments to implement pro-market “reforms.”
The bank workers’ strike is part of the emerging class struggles in India and globally triggered by the deepening global capitalist slump. However, the unions are attempting to contain the confrontation.
The July 29 strike was limited to one day and isolated from workers in other industries who face similar attacks. All India Bank Officers Association (AIBOA) general secretary S. Nagarajan, told the press that the strike was only a “warm-up” to a “bigger” one. In reality, the union officials are working with the government to shut down the struggle as soon as possible.
Early last year, when the bank unions called for a 25 percent pay rise, the IBA refused and the unions later agreed to just 15 percent. “Our members are happy with the hike,” All India Bank Employees Association (AIBEA) general secretary C.H. Venkatachalam claimed. Highlighting the subservient role of the unions, he added : “I hope the settlement now will motivate people to work hard to achieve new objectives for the banking industry and set new standards towards customer satisfaction.”
All nine unions in the UFBU participated in the latest negotiations. Undoubtedly, the aim of such talks was to scuttle the workers’ opposition. Several UFBU unions are affiliated to the Stalinist parties that have long supported or participated in Indian governments.
Both the AIBEA and AIBOA are linked to the trade union wing of the Communist Party of India (CPI). Another union, the BEFI, has fraternal relations with the Centre of India Trade Unions, which is affiliated to the Communist Party of India (Marxist) or CPM. Both parties have worked with successive governments to implement pro-market “reforms.”
The bank workers’ strike is part of the emerging class struggles in India and globally triggered by the deepening global capitalist slump. However, the unions are attempting to contain the confrontation.